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Xpress Delivery
Asymmetric Digital Subscriber Line (ADSL) described as an “always on” board band connection, offers subscribers continued high speed internet connectivity at relatively low costs through existing phone lines*. (*see detailed description below)rn rnPut in place at a cost of Rs. 100 million, ADSL will initially be offered in the Colombo and Greater Colombo area.rn rnSuntels […]
Home Run
The Urban Development Authoritys (UDA) call to develop five of its properties in the Colombo District, received 140 proposals when the tender closed on Monday. The UDA however has put off the deadline to June 19 to accommodate more interested investors.rn rnUDA officials told Lanka Business Online that the 140 proposals came from 45 firms, […]
Try Again Later
The international call access code auction has run aground with regulators now eying a late June date for the event. Industry officials say despite a working model being in place, a number of other issues need to be resolved before the auction.rn rnThe list of chores include registering a web address, the terms and conditions […]
Forging Ties
Janashakthi Insurance has sought regulatory approval to complete its merger with National Insurance Corp.Once the Insurance Board of Sri Lanka approves the merger, Janashakthi will need to go before the Colombo District Court to officially seal the name change.rn rnldblquote NIC will be known as Janashakthi Insurance and we hope to wrap up the paper […]
Helicopter Ride
Lankas top accounting body is giving its membership tips on how to add value to its products and services at its annual forum next week.The Chartered Institute of Management Sri Lanka Division will focus on ldblquote Repositioning Sri Lanka Globally dblquote at its annual conference from May 29-30.rn rnldblquote We selected four topics on how […]
Building Schools
Promoting home ownership and job creation, the National Housing Development Authority (NHDA) is rolling out a campaign to disseminate construction skills to individuals.Initially to be tested on a plantation housing project, the campaign will then help construct 300,000 estate homes under the Plantation Housing Programme before being rolled out islandwide.rn rnThe ldblquote Homes For All […]
Question Mark
The Carsons and JKH Groups recent acquisition of Aitken Spence shares in Union Assurance Ltd has got the securities watchdogs attention.The Securities & Exchange Commission says it is looking into the issue as to whether both parties acted in concert and triggered the Takeovers & Mergers code.rn rnPresently, Carsons owns 36.91 percent and JKH owns […]
Changing Gears
The brands owner Watawala Plantations Ltd., the biggest exporter of Ceylon Tea to Malaysia, has held detailed discussions with Sri Lankas High Commissioner designate to that country and former Mrs. World Rosy Senanayake on this initiative. Plans announced this week by Watawala include the setting up of Zesta shops modeled on the prototype at Colombos […]
Coin Jam
Money clogged up due to coin jams in Tritel payphones will go to charity in the provinces they come from, the Maharagama Cancer Hospital the first to benefit. Tritel officials say, since it was impossible to return the money to the people who lost it to the payphone, they have decided to donate it to […]
Rural Rumble
A team of consultants has recommended tough reforms, a more focused regulatory regime and the winding up of co-operative banks with a negative net worth to clean up the rural financial institutions.The report jointly commissioned for the Central Bank and the Asian Development Bank also recommends a stronger regulatory role for the rural financial sector.rn […]